This report sent to G20 Finance Ministers and Central Bank Governors for their meeting in Buenos Aires in March 2018 provides an overview of two reports sent to the meeting as part of the FSB work on correspondent banking and remittances.
A decline in the number of correspondent banking relationships remains a source of concern for the international community because, in affected jurisdictions, it may impact the ability to send and receive international payments, or drive some payment flows underground, with potential adverse consequences on international trade, growth, financial inclusion, as well as the stability and integrity of the financial system.